Hi!
I've been using VLC for years now and used to be able to open these old WMV files normally in older versions of VLC. I think VLC 3.0.18 was the last version where they worked fine and I kept transferring my setting with every VLC update. With the newest version of VLC (3.0.20) I was getting a black screen with audio while trying to play the videos. MPC-HC and Windows Media player worked normally. I've tried a few settings in VLC preferences and this seems to be an issue with hardware acceleration. The "automatic" setting in "hardware acceleration" picks Direct3D11 and it can't decode these old WMVs properly while all the other files work. Everything, including the old WMVs, seems to work fine if I manually pick DXVA 2.0.
I don't know much about this stuff, but there seems to be an issue with how VLC automatically pics the hardware acceleration method. I've got Windows 10 x64 with all the updates and VLC uses my laptop's integrated graphics card. It's a i5-10300H cpu.